Fortune 500 tenant to occupy new 430,152 square-foot industrial building
Perris, Calif. – Voit Real Estate Services, a privately held, broker-owned Southern California-based commercial real estate firm, has successfully secured the long-term pre-lease of Ramona Commerce Center, a 430,152 square-foot newly constructed industrial building that is slated for delivery in November 2021 in the city of Perris, California.
Voit’s Senior Vice Presidents Juan Gutierrez, Mike Bouma and Ryan Miller represented the property owner, IDI Logistics, a leading investor and developer of logistics real estate. The tenant, a Fortune 500 industrial supplier with locations across the U.S, will occupy 100% of the building, utilizing it as a regional distribution center.
“This transaction speaks to the strength of the local market and to the deep expertise of the IDI Logistics team,” says Gutierrez. “The Inland Empire remains one the largest and most in-demand industrial hubs in the country. This demand has left few vacancies in the region. In fact, for the first time ever, industrial vacancy in the Inland Empire fell below 2%, dropping 95 basis points in Q2 of 2021 to just 1.78%. The shortage of space spans all size ranges and is especially low in spaces over 250,000 square feet.”
IDI Logistics recognized the opportunity in this location and developed an asset that was well-positioned to generate competitive interest, according to Gutierrez.
“There are very few vacant properties in the region that offer industrial users everything this property does,” Gutierrez notes. “Its development was exceptionally well-timed in this highly competitive industrial market.”
Ramona Commerce Center is strategically situated in one of the premier distribution markets in the country. The site is in close proximity to the I-215 and offers access to additional major Interstates, allowing for direct connections to surrounding regions.
“Based on the property’s strategic location and highly sought-after industrial features, it garnered tremendous interest from several prospective tenants,” says Giancarlo Da Prato, Vice President of IDI Logistics. “Ultimately, Voit was able to use its expertise in the Inland Empire market to successfully secure this pre-lease with a highly regarded tenant that will deliver deep value at the property for many years ahead.”
The modern bulk warehouse is situated on 24 acres and offers state-of-the-art 36-foot-high ceilings, ESFR fire sprinklers, trailer parking, a large yard and truck court, along with several other amenities that are in high-demand for tenants seeking warehouse and distribution space, according to Gutierrez.
“The speed with which we secured this lease, prior to the completion of construction, speaks to the stability and growth of the local industrial market,” says Gutierrez. “As demand continues to outpace supply, we expect to see more rapid transactions and increased interest from prospective tenants.”
Ramona Commerce Center is located at 4130 Indian Avenue, Perris, CA 92571. Construction is anticipated to be completed in November 2021.